General Electric’s decision to reduce its stake in Baker Hughes a GE Company is another important step in the former’s deleveraging journey, argues Credit Suisse, although the firm isn’t ready to be bullish just yet.

Debt concerns have weighed on General Electric investor sentiment for some time. The company has made significant progress though, reducing total debt by about $26 billion over the past two years. But reduced financial leverage hasn’t eliminated all balance sheet concerns for one bearish GE analyst.